C3.ai surges on partnership with Microsoft to boost enterprise AI adoption

C3.ai Inc (NYSE:AI ) shares surged nearly 20% in early trading on Tuesday after the enterprise AI software company announced an expanded partnership with Microsoft (NASDAQ:MSFT ) to accelerate the adoption of AI solutions on the Azure cloud platform.

The stock was up 19.7% at $31.20, bringing its year-to-date gains to roughly 9%.

Under the partnership, C3.AI's entire suite of enterprise AI applications, including generative AI solutions, will be integrated with Microsoft Azure, streamlining access for enterprise customers, the company said in a statement. The collaboration also includes joint product development, marketing, and sales initiatives to drive adoption of AI-powered tools for supply chain optimization, predictive maintenance, ESG goal tracking, and more.

“This strategic alliance accelerates the adoption of Enterprise AI, benefiting customers with broadly available enterprise AI application software to achieve rapid time-to-value in supply chain optimization, production optimization, predictive maintenance, government efficiency, ESG goal attainment, and energy management.” C3AI CEO Thomas M. Siebel said.  .

C3.AI's position as a preferred AI application provider for Azure, alongside Microsoft's role as the cloud provider for C3.AI’s offerings, underscores growing demand for enterprise-ready AI solutions. The two companies have partnered since 2018, delivering AI tools at scale to major clients like Dow Inc (NYSE:DOW ). and Shell (LON:SHEL ) Plc.

Source: Investing.com